CC RESOLUTION 128009 G
Resolution No. 1280
RESOLUTION OF THE CITY COUNCIL OF `iT3E CI'1Y OF EL SEGUNDO, CALIFORNIA,
ACCEPTING THE TIME PAYMENT BID OF JAMES L. STINNETT FOR CERTAIN
CITY OiVhED REAL PROPERTY.
WHEREAS, the City of E1 Segundo, California, has heretofore
instituted and is now prosecuting a general comprehensive program
for the restoration of tax deeded properties within said City to a
tax paying basis; and
WHEREAS, pursuant to said procedure as so established,
said Council has caused to be given and published a notice of
intention to sell the interest of said City in certain of such tax
deeded parcels, which said notice is designated as "Notice No. Eleven M
of Intention to Sell City of E1 Segundo Owned Real Property and
Inviting Bids or Offers Therefor ", and * ich said notice was published
in the E1 Segundo herald in the issues of December 11th, 18th and
25th, 1952; and
WHEREAS, responsive to said notice, the bid hereinafter
specifically mentioned for the property hereinafter described was
filed, and has been duly considered by this Council; and
WHEREAS, this Council has reached a decision with reference
to the sale of said property;
NOW, THEREFORE, be it resolved by the City Council of the
City of El Segundo, as followst
First: That the particular property which is the subject
of this resolution, and the sale therein contemplated, is located
in the City of El Segundo, County of Los ,Angeles, State of California,
and is described as follows:
Lot 31 (Ex of Mining Rights) Tract No. 2028, as per Book
35, Page 37 of Maps, Records of Los Angeles County.
Second: That it would be for the best interest of said City
to accept the bid hereinafter specifically referred to in the sum of
$611.00 for said parcel of property.
Third: That the bid of James L. Stinnett, on behalf of James L.
Stinnett and Marie Stinnett, husband and wife, as joint tenants, herein-
after called the purchasers, to purchase good and sufficient deed,
with policy of title insurance from the City for the sum of $611.00,
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payable in installments within the time and upon the conditions
and terms hereinafter stated, be and the same is hereby accepted.
Fourth; That the said acceptance of said bid and the sale
herein made by virtue of this acceptance thereof are so accepted and
made subject to the following conditions;
1. The terms and conditions of said "INOtice No. Eleven M of
Intention to Sell City of E1 Segundo Owned Real Property and Inviting
Bids or Offers Therefor ";
2. That the said purchase price for said real property
to be so conveyed as above stated, is payable and shall be paid as
follows; $211.00 upon execution and delivery of the contract of sale
hereinafter referred to and the balance of said purchase price,
together with interest on the unpaid principal amount at the rate of
7° per annum from the date of said contract of sale, principal and
interest payable in installments as follows;
036.40, or more, and
interest on the unpaid principal balance, on the 14th day of February,
1953, and $36,36, or more, and interest on the unpaid principal balance,
on the 14th day of March, 1953, and on the 14th day of each and every
month thereafter until the 14th day of December,
1953, when the entire
balance due on the principal and interest becomes due and payable.
Fifth; That the purchasers, within ten days from and after
written notice of the acceptance of said bid hereby made, together
with notice that the said contract of sale has been prepared and is
ready to be executed, shall execute and deliver the required contract
Of sale and purchase agreement containing the full usual provisions
included in the usual form of sale and purchase agreements as printed
by the title companies of Los Angeles County, and approved by the City
Attorney or Special City Attorney, ana that if such purchasers fail
to do so, then and in that event the said City, at the option of the
City Council thereof, shall be relieved of its obligation to enter into
said contract of sale and to convey hereunder, and the amounts there-
tofore paid or deposited on said property or with said bid shall be
forfeited to said City as full and liquidated damages, and said
City shall thereupon be free and without liability to said successful
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bidders to sell said property to any other purchaser.
Sixth: That the Mayor of the City of El Segundo is hereby,
authorized and instructed to execute in the name of said City and
on its behalf the said contract of sale in form approved as aforesaid,
and the City Clerk is hereby authorized and instructed to attest the
same and affix the corporate seal of said City thereto and to deliver
said contract of sale to said purchasers upon receipt by said Clerk
for said City of said initial payment of $211.00 and the delivery to
said City Clerk for said City of a like duplicate of said contract of
sale executed by said purchasers; and that the said Mayor and City
Clerk are hereby further authorized and instructed, upon the payment
to said City of the full sum of all amounts payable to said City
under said contract of sale, to execute, attest, seal and deliver to
said purchasers a quitclaim deed of said real property, together with
a policy of title insurance, showing said property vested in the City
of El Segundo.
Seventh: That the bid of said purchaser, above referred to,
be placed on file in the office of the City Clerk of said City, and
the said bid and said "Notice No. Eleven M of Intention to Sell City of
E1 Segundo Owned Real Property and Inviting Bids or Offers Therefor ",
are hereby referred to and by this reference expressly incorporated
herein and made a part hereof.
Eighth: That the City Clerk shall certify to the passage
and adoption of this resolution; shall cause the original of the
same to be entered in the book of resolutions of said City of
El Segundo, and shall make a minute of the passage and adoption
thereof in the records of the proceedings of the City Council of said
City, in the minutes of the meeting at which the same is passed
and adopted.
Passed, approved and adopted,
A`T17TEST: y -
City Clerk.
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this 14th day of January, 1953•
Mayor o the City of egundo
09 i5
STATE OF CALIFORNIA )
COUNTY OF' LAS ANGELES
CITY OF EL SEGUNDO )
I, NEVA M. E'LSEY, City Clerk of the City of E1 Segundo, hereby
certify that the foregoing resolution was adopted by the Council
of the City of El Segundo, signed by the Mayor and attested by
the City Clerk at a regular meeting thereof held on the 14th day
of January, 1953.
That said resolution was adopted by the following vote:
AYES: Councilmen - Baker, Gordon, Peterson, Swanson and Mayor Selby;
NOES: Councilmen - None;
ABSENT: Councilmen - None.
Uity Cll rk of the i of
E1 Segundo.
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